I have unmarried people (boyfriend and girlfriend) living in California who share a mortgage opened in 2019 with principal amount of 1,200,000 and interest 50,000. I would like to know if you can divide the mortgage debt amount by 2, so each of them have 600,000 well below the 750,000 limitation. I searched the topic and found the following thread:
viewtopic.php?f=8&t=2909
Here is my understanding: there was a court case which decided that the mortgage debt is per house, so unmarried people cannot decide, but the case has been successfully appealed in the Ninth Circuit Court of Appeals which decided that it is person so they can divide. This is summarized in this link:
https://www.journalofaccountancy.com/ne ... 12809.html
As the info is old (6 years), I would like to know if there is any new development. Besides that, I also would like to know to know if they have to divide the amounts equally on the mortgage and property tax. For example, one person takes 1/3 of the mortgage and 2/3 of the property tax. It is not easy to find the info, so I would greatly appreciate your help. Thanks.